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What Is Network Marketing? Page | 1 The REAL Truth About Network Marketing By Patrick Bet-David This eBook is based on a video that you can find at http://patrickbetdavid.com/network-marketing Recently John Oliver who has his own show on HBO did a video on multilevel marketing and network marketing. It prompted hundreds of emails and messages sent our way asking, "Pat, what do you think about what John Oliver said about network marketing?" Mario and I then watched the video. One thing I love about comedians is that they can, for example, talk about how bad Republicans are one week and then the next week talk about how bad Democrats are. This is one thing I love about Jon Stewart. Even though he leans to the left, he's willing to give both sides. They say things in a way that are funny and they can get away with it because at the end of the day they can say, "I'm just a comedian! I didn't mean anything by it." So it's cool. I was a bit disappointed with how John Oliver handled this topic because while he's a great comedian, he only gave one side of the story when it comes to network marketing. So today I want to completely break it down and cover the following six things with you about network marketing: • What is Network Marketing? © 2016 by Patrick Bet-David Page | 2 • Types of MLM Products • Common Criticisms of Network Marketing • Different Types of Network Marketing Compensation Plans • The Benefits of Joining a Network Marketing Company • What to Look for in a Network Marketing Company My Personal Experience with Network Marketing But first, let me share with you my personal experience with network marketing. I used to work at Bally Total Fitness many years ago. I was a 20-year-old and had just recently gotten out of the Army. MLMers and network marketers often love to target gym salesmen because people who work at the gym know everybody. Everyone comes to the gym and the best guys at the gym are connected with everybody. So everyone tried to recruit me, and everybody else to a network marketing company. So eventually, one of my friends gave me a tool commonly used at the time - a VHS video to watch. Up to that point, I had no idea what network marketing was. I had just gotten out of the Army, and in the Army one of our sergeants, that was making $60,000 a year as a master sergeant was making $150,000 in a legal network marketing company. So I knew there was something there, but I didn't fully know about it. © 2016 by Patrick Bet-David Page | 3 So on the day that he gave me the video, I was ticked off at my job. I got home from a nightclub at 2:00 in the morning, and put on the video. It was an hour-and-a half video, and after watching it, I said, "I'm interested." I called the guy and used my credit card to pay the $1500 to get started. I had a guy that I was working with in my upline that changed companies seven different times. So at the time, since he was older than me, I just followed him from one company to the next, since he kept telling me, "this one's going to be better." Finally I said, "Don't call me. Don't touch me. Don't talk to me. Don't approach me about anything to do with any of this stuff." I was so annoyed because all of my friends thought of me as someone that only wanted to sell them something. I decided to go back to pure, traditional business, and went to Morgan Stanley Dean Witter. But after I left, I saw there was something very attractive about network marketing that turns people on. That drove me to investigate the entire industry to find out exactly what worked and what didn't work, and that's what I'm presenting to you today. © 2016 by Patrick Bet-David Page | 4 #1: What is Network Marketing? So what is network marketing? Network marketing is not an industry. Direct marketing is not an industry. Even MLM, multilevel marketing is not an industry. It's a philosophy of marketing. That's all it is. It's a philosophy of marketing. And what is marketing? Marketing is a certain strategy you use to get the customer's attention so that he eventually ends up buying your product. That is all network marketing is. Let me explain. There are about 150 different ways you can market your product. I'm just going to give you an example of some of them here. Direct Marketing Direct marketing is for me to sell my product by going directly to the consumer. Or going directly to the business. With direct marketing, I have a product; let me show it to you. Will you buy it? If yes, you pay me and in exchange for money, I give you the product, and I make a profit off the sale. Email Marketing Next you have email marketing. For many years people that did email marketing were called the biggest con artists because they would say things like, © 2016 by Patrick Bet-David Page | 5 "This is an elite thing that only seven people will be a part of, and you have an opportunity to be part of the seven." And people would respond, "Oh my gosh, I've got to be part of it." A lot of people called people that did this con artists, but there's a creative part to it and it can be very effective. Telemarketing Some do telemarketing. Telemarketing is a philosophy of marketing where people in a call center make sales calls and some people buy. It's effective for some people because if you throw enough against the wall, some of it sticks. Affiliate Marketing Another one is affiliate marketing. What's affiliate marketing? Affiliate marketing is hey, let us put this on your website. If somebody clicks on it, we'll give you $3. If somebody buys the product, we'll give you $25." Network Marketing Another one is network marketing. What is network marketing? I am marketing my product to who? To my network. That's all it is. I am marketing my product to my network. That's network marketing. Multilevel Marketing © 2016 by Patrick Bet-David Page | 6 An example of network marketing is when back in the day, ING Direct said, "If you help someone else open up an ING Direct account, we'll give you $25." But, multi-level marketing says the following. "If you find somebody else who refers ING and they open up an account, we'll pay him $25, and we'll pay you $5." Now it becomes a level. So it's multilevel. We'll pay two generations, that's where the level comes in. Guerrilla Marketing Then you have guerrilla marketing. An example of guerrilla marketing is when you had guys that came out with a CD and they marketed it in the streets, just hitting a ton of people at the same time. Some call this a very con and deceptive way of doing it, but it's effective. And many major hip hop people and movie people in the world that you respect started with guerrilla marketing. Behavioral Marketing Next is behavioral marketing. Sometimes people say, "Hey, the weirdest thing happened today. I went on this website just two days ago to buy furniture, and today every website I go to is advertising the same furniture to me. There's something weird going on." No, it's called behavioral marketing. Some people feel this is a little deceptive, but it's just marketing! And people buy the product because they simply see your fingerprints of where you went on the web and they advertise accordingly. © 2016 by Patrick Bet-David Page | 7 Digital Marketing Next is digital marketing. What's digital marketing? Social media. It's very, very effective. Now some people say, "I'm sick and tired of seeing ads on social media. Every time I watch a video, this guy keeps coming up." But this is digital marketing and it works. Celebrity Marketing Celebrity Marketing is when a celebrity or athlete says, "Hey, I used this product and it changed my life!" MJ Hanes, LeBron, and Shaq are examples. Cross Marketing Then you have cross marketing. Cross marketing is when, for example, a real estate agent teams up with accountants. It's when you team up with someone and cross market products. Trade Show Marketing Next, trade show marketing. Trade shows are all some people talk about. And others say, "I would never do a trade show. It's so annoying." But there are many successful trade show marketers. © 2016 by Patrick Bet-David Page | 8 T.V. Marketing Then you have T.V. marketing. A lot of people do T.V. advertisement. It's some of the most manipulative marketing tactics. You know why? It gives people the impressions such as, "If you drink this beer you're going to get laid." Or, "Take this pill and your erections may last for the rest of your life!" People watching that may say, "Oh my gosh! Give me one of those pills! I want an erection that lasts a lifetime." Give me a break! This is manipulative, but it works. Radio And then you have radio.
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